Nuveen LLC Acquires New Stake in Netflix, Inc. (NASDAQ:NFLX)

Key Points

• Nuveen LLC has acquired a new stake in Netflix, Inc. by purchasing 2,558,186 shares, valued at approximately $2.39 billion, making Netflix the fund's 21st largest position.
• Insider trading activities included significant sales, with Director Bradford L. Smith selling 3,919 shares and CFO Spencer Adam Neumann selling 2,601 shares, reflecting a notable decrease in their holdings.
• Netflix reported a quarterly earnings per share (EPS) of $7.19, surpassing analysts' expectations and demonstrating a 15.9% year-over-year revenue increase.

Nuveen LLC acquired a new position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,558,186 shares of the Internet television network's stock, valued at approximately $2,385,585,000. Netflix accounts for about 0.7% of Nuveen LLC's holdings, making the stock its 21st largest holding. Nuveen LLC owned about 0.60% of Netflix at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of NFLX. Halbert Hargrove Global Advisors LLC lifted its holdings in Netflix by 100.0% during the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock worth $25,000 after buying an additional 13 shares during the period. Brown Shipley& Co Ltd bought a new stake in Netflix in the 4th quarter valued at about $27,000. Transce3nd LLC bought a new stake in Netflix in the 4th quarter valued at about $32,000. Copia Wealth Management acquired a new position in Netflix during the 4th quarter valued at about $37,000. Finally, Stuart Chaussee & Associates Inc. boosted its stake in Netflix by 4,500.0% during the 4th quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network's stock valued at $41,000 after purchasing an additional 45 shares during the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Netflix

In related news, CFO Spencer Adam Neumann sold 2,601 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $1,307.22, for a total transaction of $3,400,079.22. Following the completion of the sale, the chief financial officer owned 3,691 shares of the company's stock, valued at $4,824,949.02. This trade represents a 41.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jay C. Hoag sold 31,750 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $1,252.35, for a total value of $39,762,112.50. Following the completion of the transaction, the director owned 63,040 shares in the company, valued at approximately $78,948,144. The trade was a 33.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold 150,226 shares of company stock worth $183,849,784 in the last 90 days. 1.37% of the stock is currently owned by company insiders.

Netflix Stock Up 2.6%

NASDAQ NFLX traded up $31.27 during trading on Friday, hitting $1,211.64. The stock had a trading volume of 3,811,512 shares, compared to its average volume of 3,954,067. The company has a market capitalization of $514.86 billion, a PE ratio of 51.63, a P/E/G ratio of 2.04 and a beta of 1.59. Netflix, Inc. has a 12 month low of $622.99 and a 12 month high of $1,341.15. The company's 50-day moving average price is $1,232.25 and its two-hundred day moving average price is $1,095.21. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.34 and a current ratio of 1.34.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The Internet television network reported $7.19 EPS for the quarter, beating analysts' consensus estimates of $7.07 by $0.12. The firm had revenue of $11.08 billion for the quarter, compared to analyst estimates of $11.04 billion. Netflix had a return on equity of 42.50% and a net margin of 24.58%. The company's revenue for the quarter was up 15.9% on a year-over-year basis. During the same period in the prior year, the firm posted $4.88 EPS. As a group, sell-side analysts forecast that Netflix, Inc. will post 24.58 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently commented on NFLX shares. Seaport Res Ptn downgraded Netflix from a "strong-buy" rating to a "hold" rating in a research note on Sunday, July 6th. Citigroup restated a "neutral" rating and set a $1,250.00 target price (up previously from $1,020.00) on shares of Netflix in a research report on Thursday, May 29th. Moffett Nathanson restated a "buy" rating and set a $1,150.00 target price (up previously from $1,100.00) on shares of Netflix in a research report on Friday, April 18th. Morgan Stanley reaffirmed an "equal weight" rating on shares of Netflix in a report on Monday, July 21st. Finally, Guggenheim reaffirmed a "buy" rating and issued a $1,150.00 price target (up previously from $1,100.00) on shares of Netflix in a report on Friday, April 18th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $1,297.66.

Netflix Profile

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and games across various genres and languages. The company also provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, TV set-top boxes, and mobile devices.